Weight loss drug Ozempic sales grow nearly 50% in the US, says maker Novo Nordisk

A surge in demand for weight loss drug Ozempic has helped Novo Nordisk post a 25% jump in revenues in the first half of the year, the Danish company said today.

The Bagsværd-based pharma giant said it had seen a 48% rise in sales of its Ozempic treatment in the US, and a near one-third rise in sales worldwide, to hit 56 billion Danish Krone (£6.5 billion).

But the company’s overall profits of £2.3 billion fell short of analyst forecasts, and it cut back its full-year profit outlook, which it now expects to be up between 20% and 28%. Its shares fell 4.8% to 847p.

Investor and consumer enthusiasm for Ozempic have helped Novo’s shares rocket more than 60% over the past year, to make the company Europe’s most valuable with a market cap of around £350 billion.

Lars Fruergaard Jørgensen, president and CEO, said: "We are pleased with the sales growth in the first half of 2024, which has enabled us to raise the outlook for the full year. The growth is driven by the increased demand for our GLP-1-based diabetes and obesity treatments, and we continue to reach more patients with our innovative treatments.”